One of the things Dubai is known for is its really cheap gold. Whether you are thinking of buying or not, a stroll through the Deira Gold Souk is a must while you are on a vacation in Dubai. You will never know! You might find some things in the stores’ windows that tickle your fancy.
Basic Things That You Should Know First
The Deira Gold Souk, or just Gold Souk, is a traditional market in Dubai that is located in the heart of the city’s commercial business district of Deira. It comprises more than 300 retailers that almost exclusively sell in jewelry, including established stores like ARY Jewellery, Damas, Joy Alukkas and Shyam Jewellery. According to some estimates, there are approximately 10 tons of gold that is present in the souk at any given time.
Wise Tips on Bartering
You can end a good day at the Deira Gold Souk by closing a good barter. Here are some tips you can consider for engaging in a good deal on your end and for saving more money you can use for other things on your vacation:
- Know your gold - Remember that gold is sold by carat and weight. However, it is fine not to do some research on this before you go to the souk, as you will find a posted electronic sign there that monitors gold prices by carat in United Arab Dirhams, which means you will have a good idea of the right going prices. With this information, you will be ready to barter knowledgeably.
- Choose the right pieces - English is widely spoken at the souk, and sellers will be eager to show you whatever you like. After finding a few pieces that interest you, ask about their carat values and weight in grams, and the sales personnel should be weighing them on a scale. Also, be sure to stick with stores where gold quality is closely monitored by the government. As you can see, there will be street vendors not falling under the same regulations and often selling fakes.
- Barter based on your budget - If you have your heart set on a particular piece of jewelry, barter for a price that is within your budget. Put in mind that sellers tend to expect that you are going to barter and set their prices high, hoping to strike a deal that still favors them. So, be prepared to walk away, as most of the time, this makes sellers ask what price you are willing to pay just to make a sale.
- Be flexible - Bartering is not a science, but an art. So, if you find something you really like with a price that is within your budget, but the seller does not allow you to barter as much as you like, then just concede.
The Deira Gold Souk is bordered to the north by the Deira Corniche and the Dubai Fish and Vegetable Market, so you can reach it by bus. You can also reach it by taking the Dubai Metro to Al Ghubaiba and then taking a regular boat from the nearby Bur Dubai.